International Paper (NYSE:IP) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its position in International Paper (NYSE:IPFree Report) by 2.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 99,228 shares of the basic materials company’s stock after selling 2,935 shares during the period. State of Alaska Department of Revenue’s holdings in International Paper were worth $3,586,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of IP. Mizuho Markets Americas LLC acquired a new position in shares of International Paper in the third quarter valued at about $144,509,000. Norges Bank purchased a new position in International Paper during the fourth quarter worth approximately $83,530,000. BlackRock Inc. boosted its position in International Paper by 4.0% during the first quarter. BlackRock Inc. now owns 36,929,748 shares of the basic materials company’s stock worth $1,331,687,000 after purchasing an additional 1,436,757 shares in the last quarter. Barclays PLC boosted its position in International Paper by 310.8% during the second quarter. Barclays PLC now owns 1,451,344 shares of the basic materials company’s stock worth $46,167,000 after purchasing an additional 1,098,032 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in International Paper by 208.0% during the third quarter. Acadian Asset Management LLC now owns 1,610,933 shares of the basic materials company’s stock worth $57,129,000 after purchasing an additional 1,087,933 shares in the last quarter. 81.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wells Fargo & Company lowered their price target on International Paper from $39.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday, February 2nd. Truist Financial restated a “buy” rating and issued a $40.00 target price on shares of International Paper in a research report on Wednesday, March 20th. StockNews.com downgraded International Paper from a “buy” rating to a “hold” rating in a research report on Sunday, January 14th. Royal Bank of Canada restated an “outperform” rating and issued a $43.00 target price on shares of International Paper in a research report on Friday, February 2nd. Finally, Bank of America upgraded International Paper from an “underperform” rating to a “buy” rating and raised their target price for the company from $37.00 to $42.00 in a research report on Monday, March 4th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, International Paper presently has a consensus rating of “Hold” and a consensus price target of $37.13.

View Our Latest Stock Report on IP

International Paper Trading Down 0.8 %

Shares of NYSE IP opened at $38.70 on Wednesday. International Paper has a twelve month low of $29.00 and a twelve month high of $41.28. The company has a current ratio of 1.67, a quick ratio of 1.19 and a debt-to-equity ratio of 0.65. The stock has a fifty day simple moving average of $36.16 and a 200-day simple moving average of $35.57. The stock has a market capitalization of $13.40 billion, a PE ratio of 47.20 and a beta of 0.99.

International Paper (NYSE:IPGet Free Report) last issued its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. International Paper had a return on equity of 8.87% and a net margin of 1.52%. The business had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same period in the previous year, the firm posted $0.87 earnings per share. The company’s revenue was down 10.4% on a year-over-year basis. On average, equities analysts forecast that International Paper will post 1.84 earnings per share for the current year.

International Paper Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 22nd were issued a $0.4625 dividend. The ex-dividend date was Wednesday, February 21st. This represents a $1.85 dividend on an annualized basis and a yield of 4.78%. International Paper’s dividend payout ratio (DPR) is presently 225.61%.

Insider Activity at International Paper

In related news, SVP James P. Jr. Royalty sold 5,800 shares of International Paper stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $34.75, for a total value of $201,550.00. Following the completion of the transaction, the senior vice president now directly owns 69,488 shares in the company, valued at $2,414,708. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last three months, insiders sold 8,200 shares of company stock worth $287,770. Company insiders own 0.51% of the company’s stock.

About International Paper

(Free Report)

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.

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Institutional Ownership by Quarter for International Paper (NYSE:IP)

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